Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Feds say Florida nursing schools sold 7,600 fake diplomas

    January 28, 2023

    German-Australian hydrogen supply chain investment of $90 million

    January 28, 2023

    Pakistan economy in danger of collapsing due to loan defaults

    January 27, 2023
    Facebook Twitter Instagram
    • Home
    • Contact Us
    Arab NarrativeArab Narrative
    • Automotive
    • Business
    • Entertainment
    • Health
    • Luxury
    • Lifestyle
    • News
    • Sports
    • Technology
    • Travel
    Arab NarrativeArab Narrative
    Home » Majid Al Futtaim joins IBM Food Trust
    Technology

    Majid Al Futtaim joins IBM Food Trust

    February 17, 2021
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia – owner and operator of the Carrefour franchise in these regions and IBM (NYSE: IBM) announced that Majid Al Futtaim has joined IBM Food Trust, a blockchain-enabled global ecosystem for the food industry run on IBM Cloud.  

    Carrefour will become the first retailer in the region to offer new levels of insight and transparency to its customers about the provenance of their food via end-to-end visibility on products throughout its supply chain.

    Carrefour will become the first retailer in the region to offer new levels of insight and transparency to its customers about the provenance of their food via end-to-end visibility on products throughout its supply chain, promoting increased quality, credibility and safety for its shoppers.

    The initiative will start with two initial product categories, Carrefour’s own fresh chicken brand and micro-greens harvested from select in-store hydroponic farms, before expanding into more product lines. All participants in this initiative across the supply chain will benefit from a smarter, and more sustainable food ecosystem. The digitization of transactions and data provides a more efficient way of working across the supply chain for growers, processors, shippers, retailers, regulators, and consumers.

    By simply using their smartphone to scan a QR code on participating products such as Carrefour’s fresh chicken, customers will be able to get immediate access to actionable food supply chain data, from farm to store shelf. The history of the product, including production process, halal and hygiene certifications, date of birth, nutrition information and temperature data, will be readily available once uploaded onto the blockchain.

    The growing demand for food traceability is evidenced by research conducted by the IBM Institute for Business Value (IBV), showing that 73 per cent of those responding to a survey said traceability of products is important to them. Of those who said it was very important, 71 per cent of respondents indicated they are willing to pay a premium for brands that provide it.

    Majid Al Futtaim is engaging with its supplier partners to enable broader participation in this initiative, giving Carrefour customers access to traceability details across diverse products throughout the UAE, before introducing it to other Carrefour markets operated by the company in the Middle East, Africa and Asia.

    IBM Food Trust uses decentralized ledgers to record transactions in a verifiable way. Through a collaborative blockchain network, critical information such as product origin, transportation, and ingredients, can be logged effectively and accessed quickly by permission participants across the value chain and ultimately customers.

    Today’s announcement is the latest tech-forward initiative in Majid Al Futtaim’s digital transformation of its Carrefour operations, following numerous innovative developments including Automated Click & Collect, Mobile Scan & Go and the launch of an online marketplace, utilizing the latest in state-of-the-art technology.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Spotify will reduce its workforce by 6 percent

    January 23, 2023

    Amazon Web Services to invest $35 billion in Virginia data centres

    January 21, 2023

    Powerful Macbook Pro M2 Pro and M2 Max with long-lasting battery

    January 17, 2023
    Latest News

    Feds say Florida nursing schools sold 7,600 fake diplomas

    January 28, 2023

    German-Australian hydrogen supply chain investment of $90 million

    January 28, 2023

    Pakistan economy in danger of collapsing due to loan defaults

    January 27, 2023

    Global growth will slow to 1.9 percent in 2023, warn UN economists

    January 26, 2023

    Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

    January 26, 2023

    OPEC fund loans $120 million to Panama to tackle climate change

    January 26, 2023

    Ship carrying 22 sinks off Jeju, 14 rescued, 9 unconscious

    January 25, 2023

    Transport halted across Japan by heavy snow, deep cold

    January 25, 2023
    © 2021 Arab Narrative | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.